Cabinet Committee on Textile meets

ISLAMABAD - The Cabinet Committee on Textile, which met here Friday under the chairmanship of Federal Minister for Textile Industry Rana Muhammad Farooq Saeed Khan, discussed matters relating to implementation of Textile Policy and situation of cotton and yarn. Federal Minister for Finance Shaukat Tarin was also present on the occasion. Federal Secretary Ministry of Textile Industry Dr. Waqar Masood Khan gave detailed presentation and comprehensive review about implementation of Textile Policy. He also presented review of cotton and yarn production, prices and their overall trends. Waqar Masood informed the meeting that Federal Minister for Textile had held several meetings with stakeholders to address problem of rising yarn prices and decline in availability of yarn for local industry. Later, the participants critically analysed different aspects of the Textile Policy as well as situation of yarn and cotton and gave different proposals and recommendations. The meeting decided that trends of cotton yarn exports would be monitored and all future contracts, indicating volumes and values, would be registered with Trade Development Authority of Pakistan (TDAP). The committee also decided to review the situation in its next meeting that will be held after 15 days. Hina Rabbani Khar, State Minister for Finance, Nazar Muhammad Gondal, Federal Minister for Food and Agriculture, and high officials of the Ministry of Textile Industry and Ministry of Finance attended the meeting.